Updates, advisories and surprises

Central Freight Lines quarterly loss widens (7:37 PM ET) SAN FRANCISCO (MarketWatch) -- Central Freight Lines Inc.
CENF
Thursday evening said its first-quarter loss widened to $8.3 million, or 45 cents a share, from $1.1 million, or 6 cents a share, a year ago. Revenue fell to $89.3 million from $97 million a year earlier.

QD Inc. cuts quarterly, full-year forecast (6:59 PM ET) SAN FRANCISCO (MarketWatch) -- QAD Inc.
QADI
after Thursday's closing bell cut its first-quarter and full-year 2006 forecasts, citing lower-than-expected license and services revenues and a charge of 2 cents a share related to facility exit costs. The enterprise applications provider took its first-quarter per-share forecast to a range of 6 cents to 7 cents on sales of $55 million to $56 million from a previous forecast of 12 cents to 16 cents a share in earnings on sales of between $57 million and $60 million. For the year, QAD now sees earnings of 40 cents to 50 cents a share on sales of between $227 milion and $240 million. Its prior outlook was for a per-share profit of 50 cents to 70 cents on revenue of $235 million to $250 million.

Pep Boys swings to quarterly pro forma loss (6:20 PM ET) SAN FRANCISCO (MarketWatch) -- The Pep Boys
PBY, -0.75%
after Thursday's closing bell reported a first-quarter loss from continuing operations of $2.39 million, or 4 cents a share. In the same period a year earlier, the automotive parts company posted earnings from continuing operations of $15.1 million, or 25 cents a share. Revenue slipped to $564.2 million from $566.1 million. Comparable merchandise sales rose 0.7% while comparable service revenue fell 4.6%, Pep Boys said.

Krispy Kreme to report Q4 results in August -- AP (6:06 PM ET) SAN FRANCISCO (MarketWatch) -- Krispy Kreme Doughnuts Inc.
KKD, -1.06%
said Thursday that it expects to release its overdue fourth-quarter earnings report by the end of August, according to the Associated Press. The doughnut company posted a statement on its Web site listing Aug. 30 as the date by which it would release its financial report for the quarter that ended Feb. 1, the AP reported, but the statement was abruptly removed late Thursday afternoon. Robbin Moore, Krispy Kreme's spokesperson for investor relations, told the AP she couldn't comment on why it was taken down or whether it was posted in error. "We understand our key stakeholders desire for more information about Krispy Kreme and specifically our plans to move the business forward," the AP quoted Moore as saying in a statement. "However, there are a number of things that need to be completed, such as the work of the Special Committee and restatements. Until this work is finished and we are able to provide a more complete picture, we are not going to comment."

MatrixOne to delay filing 10-Q pending review (5:05 PM ET) SAN FRANCISCO (MarketWatch) -- MatrixOne Inc.
MONE
said after the closing bell Thursday that it will be delayed in filing its third-quarter Form 10-Q with the Securities and Exchange Commission to give it additional time to complete a review of its revenue recognition practices.

Guitar Center sees quarterly earns below expectations (4:55 PM ET) SAN FRANCISCO (MarketWatch) -- Guitar Center Inc.
GTRC
after Thursday's closing bell forecast second-quarter earnings of 39 cents to 44 cents a share, including one-time charges of $3.4 million to $3.6 million, or about 7 cents a share, on sales of $395.7 million to $406.4 million. The charges are related to its recently completed acquisition of Music and Arts Center, said the company. Analysts surveyed by Thomson First Call are expecting the company to report second-quarter earnings of 51 cents a share on revenue of $389 million. The Westlake Village, Calif.-based guitar and recording equipment retailer forecast 2005 earnings of $2.59 to $2.74 a share on sales of $1.77 billion to $1.81 billion. The 2005 earnings forecast also includes acquisition-related charges of $3.6 million to $3.9 million, or about 8 cents a share. Analysts expect 2005 earnings of $2.70 a share on revenue of $1.73 billion.

Nvidia profit up, topping expectations (4:33 PM ET) SAN FRANCISCO (MarketWatch) -- Nvidia Corp. late Thursday reported net income for the first quarter of $64.4 million, or 36 cents a share, compared with net income of $21.3 million, or 12 cents a share, in the year-ago quarter. Revenue rose 24% to $583.8 million. The results outran Wall Street's expectation for earnings of 28 cents a share on sales of $581 million.

AirNet Comm quarterly loss narrows; rev rises 29% (4:26 PM ET) SAN FRANCISCO (MarketWatch) -- AirNet Communications
ANCC
after Thursday's closing bell reported a first-quarter loss attributable to shareholders of $4.6 million, or 37 cents a share, compared with a loss attributable to shareholders of $5.7 million, or $1.13 a share, a year ago. The number of shares used to calculate its quarterly per-share results rose to 12.5 million from 5 million a year ago, reflecting a 1-for-10 reverse stock split in December. Revenue rose 29% to $5.2 million from $4 million last year.

Kohl's profit up 21%; confirms 2005 view (4:22 PM ET) CHICAGO (MarketWatch) - Kohl's Corp. rode a better than 15% increase in sales to a 21% bounce in first-quarter profit and the retailer said it is looking to put up similar growth for the rest of the year. Kohl's earned $124.7 million, or 36 cents a share, on the period - ahead of the $103.1 million or 30 cents of the year-ago period but a penny shy of the average estimate of analysts polled by Thomson First Call. Sales came in at $2.7 billion, up from $2.4 billion while same-store sales grew 3.7 percent. Looking ahead, Kohl's said it continues to target full year EPS of between $2.40 and $2.50, vs. analyst views of $2.45. Shares of Kohl's
KSS, -0.33%
ended down 28 cents at $49.36.

Dell quarterly profit rises 28% to $934 million (4:15 PM ET) SAN FRANCISCO (MarketWatch) -- Dell Inc.
DELL
on Thursday reported a first-quarter profit of $934 million, or 37 cents a share, compared to $731 million, or 28 cents a share, a year ago. Revenue rose 16% to $13.4 billion from $11.5 billion. The world's No. 1 personal-computer company met the estimates of analysts surveyed by Thomson First Call.

Pacific Sunwear net gains 18%, raises share buyback (4:12 PM ET) NEW YORK (MarketWatch) -- Pacific Sunwear of California Inc.
PSUN, -5.74%
said late Thursday that first-quarter profit rose 18% to $17.6 million, or 23 cents a share, from $15 million, or 19 cents, in the year-earlier period. Earnings matched analysts average estimate, according to Thomson First Call. Sales for the three months ended April 30 climbed 14% to $280 million from $245.5 million in last year's first-quarter. Same-store sales, or sales generated at stores open at least a year, gained 3%, the Anaheim, Calif.-based apparel retailer said. Additionally, PacSun raised its ongoing stock repurchase program by $100 million. The company had about $15.5 million left under its previous $125 million authorization. The company, which reported results after the markets closed, saw its shares fall $1.03, or 4.8%, to finish at $20.35.

ViaSat quartelry profit rises (4:12 PM ET) SAN FRANCISCO (MarketWatch) -- ViaSat Inc.
VSAT, +0.36%
said after Thursday's closing bell that its fourth-quarter earnings rose to $6.7 million, or 24 cents a share, from $3.8 million, or 13 cents a share, a year ago. Pro forma earnings were $7.6 million, or 27 cents a share. Revenue was $90.9 million vs. $83.2 million a year earlier, the Carlsbad, Calif.-based company said.

Saflink widens quarterly loss (4:08 PM ET) SAN FRANCISCO (MarketWatch) -- Saflink Corp.
SFLK
after the closing bell Thursday reported a first-quarter loss of $6.8 million, or 9 cents a share, wider than its loss of $2 million, or 7 cents a share, a year ago. Revenue for the quarter was $2.2 million, compared with $802,00 in 2004.

Analog Devices quarterly profit falls 23% (2:52 PM ET) SAN FRANCISCO (MarketWatch) -- Analog Devices Inc.
ADI, -0.83%
on Thursday reported fiscal second-quarter net earnings of $118 million, or 31 cents a share, down 23% from $152.6 million, or 39 cents a share, a year ago. Revenue was $603.7 million, compared with $628.5 million last year. The chipmaker said its board approved an increase its quarterly dividend to 10 cents a share from 6 cents a share, an increase of 67%. The board also approved a $500 million increase in its share repurchase plan. Analog Devices forecast third-quarter earnings of 31 cents to 33 cents a share and gross margins "toward 58%".

Affirmative Insurance shares fall on earns shortfall (2:46 PM ET) NEW YORK (MarketWatch) -- Shares of Affirmative Insurance Holdings
AFFM, -10.81%
lost 13.7% to $12.45 Thursday after the Addison, Texas-based provider of automobile insurance posted first-quarter earnings of $8 million, or 47 cents a share, below the average estimate of analysts polled by Thomson First Call for a profit of 54 cents a share. The company said competitive pressures accelerated in the quarter, particularly in its independent agency distribution channel. Looking ahead, Affirmative lowered its outlook for the year to earnings of $1.75 to $1.85 a share from a prior projection of $1.90 to $2.10 a share.

Talx shares rise after better than expected earns (2:12 PM ET) NEW YORK (MarketWatch) -- Shares of Talx Corp.
TALX
gained almost 4% to $27.08 in afternoon action Thursday. After Wednesday's closing bell, the St. Louis provider of payroll management and other business services reported fourth-quarter earnings from continuing operations of $7.1 million, or 32 cents a share, up from its year-ago equivalent profit of $4 million, or 19 cents a share, and 2 cents ahead of Wall Street's consensus estimate. The company attributed the improved performance to continued strong revenue gains from its The Work Number services business, the contribution of its three acquisitions, and higher margins resulting from cost control and better leverage. Revenue rose 38% in the latest three months to $45.9 million from $33.3 million a year earlier.

Carrington Labs soars on first quarter performance (2:10 PM ET) NEW YORK (MarketWatch) -- Shares of Carrington Laboratories Inc.
CARN
soared 20% to $4 in afternoon trading Thursday after the company swung into profit in the first quarter, on an adjusted basis. The Irving, Texas posted a net loss of $80,000, or a penny a share compared with a loss of $245,000, or 2 cents a share in the year-ago period. However, excluding $1.01 million in company funding for its DelSite Biotechnologies' subsidiary, the company earned $930,000. Sales rose 11.5% to $8.2 million. Looking ahead, Carrington said DelSite, which specializes in developing proprietary drug and vaccine delivery technologies, expects to file a Master Drug File with the U.S. Food & Drug Administration for its needle-less nasal technology after successful completion of a Phase I clinical trial. The technology offers an alternative to injections for vaccines.

MC Shipping gets boost from quarterly report, outlook (1:31 PM ET) NEW YORK (MarketWatch) -- Shares of MC Shipping Inc.
MCX, +0.00%
jumped 15.6% to $9.05 Thursday after the New York company posted earnings of $2 million, or 23 cents a share, for the first quarter on revenue of $6.2 million. Thomson First Call doesn't publish a consensus estimate for the company's results. In the same period a year earlier, MC Shipping earned $800,398, or 9 cents a share. Looking ahead, the company said it expects sequential improvement in its earnings in the second quarter and that its profit for the year will exceed $1.35 a share.

Peerless Manufacturing posts lower profit (1:20 PM ET) SAN FRANCISCO (MarketWatch) -- Peerless Manufacturing
PMFG, -0.49%
on Thursday reported third-quarter earnings of $205,000, or 7 cents a share, down from $555,000, or 14 cents a share, a year ago. Revenue for the quarter was $13 million, compared with $13.5 million in 2004.

Core Molding Tech rallies gains on quarterly report (1:13 PM ET) NEW YORK (MarketWatch) -- Shares of Core Molding Technologies
CMT, -2.65%
rose 8.8% to $8.25 after the Columbus, Ohio-based maker of sheet molding composite products reported first-quarter earnings of $2 million, or 20 cents a share, up from a year-ago profit of $545,000, or 6 cents a share. Sales rose in the latest three months to $32.5 million from $24.2 million in the same period a year earlier. Thomson First Call doesn't publish a consensus estimate of analysts polled by Thomson First Call. The company said gross margins increased to 19.7% in the period from 16.4% due to improved production efficiencies related to labor usage, and better sales volume.

Cosi shares tumble on stock sale plans, Q1 report (12:52 PM ET) NEW YORK (MarketWatch) -- Shares of Cosi Inc.
COSI, -2.04%
lost 13.2% to $5.07 in afternoon action on Thursday. Late Wednesday, the Deerfield, Ill., restaurant operator said it plans to sell 5.1 million shares of its common stock in a public offering and it reported a loss of $2.8 million, or 9 cents a share, for the first quarter on sales of $27.2 million. The average estimate of five analysts polled by Thomson First Call was for a loss of 8 cents a share in the March period on revenue of $28.4 million.

Tektronix now sees quarterly results below expectations (12:46 PM ET) SAN FRANCISCO (MarketWatch) -- Tektronix Inc.
TEK, +0.00%
on Thursday said it now expects fourth-quarter results to come in below analysts' average forecast, citing slowing orders over the last month and concern about macroeconomic factors and "technology slowing." The Beaverton, Ore.-based test, measurement, and monitoring company said it now expects to post earnings for the period ending May 28 of 29 cents to 34 cents a share, with sales coming in between $250 million and $260 million. Analysts polled by Thomson First Call are currently looking for a fourth-quarter per-share profit of 35 cents on revenue of $269 million.

AirNet Systems gets lift from quarterly report (12:24 PM ET) NEW YORK (MarketWatch) -- Shares of AirNet Systems
ANS, -2.68%
rallied 8.3% to $4.43 after the Columbus, Ohio-based aviation services provider posted earnings of $1.5 million, or 15 cents a share, for the first quarter, better than its year-ago equivalent profit of $300,000, or 3 cents a share. Sales increased 23.3% in the latest three months to $49.9 million. Thomson First Call doesn't publish a consensus estimate for the company's results.

The Boyds Collection slides on first quarter loss (11:57 AM ET) NEW YORK (MarketWatch) -- The Boyds Collection led the list of biggest percentage decliners on the New York Stock Exchange Thursday after the maker of gifts and collectibles swung to a first quarter loss. The Gettysburg, Pa. company posted a net loss of $77.3 million, or $1.31 a share compared with a profit of $2.8 million, or 5 cents a share a year earlier. Excluding the impact of two non-cash charges totalling $74.2 million, it would have reported a loss of $3.1 million. Sales for the quarter tumbled 30% to $18.5 million due a steep decline in wholesale sales. At the end of the first quarter, wholesale bookings were down 22% compared to the year-ago period. Retail sales rose 57% to $3.3 million, in large part due to the contribution of its second Boyds Bear Country store in Pigeon Forge, Tenn., which opened in November 2004. On a same-store sales basis however, sales fell 10% due to the impact of poor weather and low tourist traffic in Gettysburg. At last check, the stock was down 15% at $2.03 in light trading volume.

International Aluminum posts higher profit (9:45 AM ET) SAN FRANCISCO (MarketWatch) -- International Aluminum Corp.
IAL, +7.14%
on Thursday reported third-quarter earnings of $2.7 million, or 64 cents a share, up from $855,000, or 20 cents a share, a year ago. Revenue for the quarter was $62.1 million, compared with $50.1 million in 2004.

Collins Industries names Glasener CFO (9:33 AM ET) NEW YORK (MarketWatch) -- Collins Industries
COLLE
Thursday named Cletus Glasener chief financial officer and vice president, effective May 23. The Hutchinson, Ky., ambulance manufacturer also said its audit committee has completed an investigation of its worker's compensation costs and recommended a revision in the procedures for establishing reserves for these costs. The stock was unchanged at $5.20 in early trades.

Glazer buys 29% stake in Man United, triggering offer (9:28 AM ET) LONDON (MarketWatch) -- U.K. soccer club Manchester United(UK:MNU)shares surged 12.8% to 299 pence as Tampa Bay Buccaneers owner Malcolm Glazer announced he had bought the 28.7% stake held by Irish horse racing tycoons J.P. McManus and John Magnier at 300 pence a share, triggering a mandatory offer for all shares in the soccer club. The offer will be 300 pence in cash for each share, valuing Manchester United at around 790.3 million pounds ($1.48 billion). The Glazer family now holds 56.9% of the soccer club.

Target earns rise, top expectations (8:30 AM ET) NEW YORK (MarketWatch) -- Target Corp.
TGT, -0.10%
reported first-quarter earnings of $494 million, or 55 cents a share, up from $432 million, or 47 cents a share in the same period a year ago, and above the average analyst estimate compiled by Thomson First Call of 53 cents a share. Earnings benefited from an improved gross margin rate. Revenue rose 13% to $11.48 billion from last year's $10.18 billion, vs. analyst forecasts of $11.53 billion, amid a 6.2% increase in same-store sales. The discount retailer's stock closed Wednesday up 69 cents at $48.20.

RCN Corp 4Q earnings rise after bankruptcy (8:25 AM ET) LONDON (MarketWatch) -- Fiber-optic networks owner RCN Corp.
RCNI
which just emerged from bankruptcy proceedings, said adjusted fiscal fourth-quarter earnings before interest, taxes, depreciation and amortization rose to $18.6 million from $4.2 million in the same quarter the previous year under bankruptcy reorganization. Revenue slipped to $122.9 million from $137.8 million. Looking ahead, RCN sees 2005 revenue of around $555 million to $565 million and adjusted EBITDA of around $70 million to $80 million.

Altair Nanotechnologies up in pre-open on jump in rev. (8:21 AM ET) NEW YORK (MarketWatch) -- Shares of Altair Nanotechnologies
ALTI, -12.50%
ran up 14% in Instinet pre-open trading after the company reported a more than 7-fold increase in first-quarter revenue. The stock was last up 44 cents at $3.55. Revenue rose to $1 million from $139,749 in the same period a year ago, due primarily to $695,000 in license fees vs. none last year. The loss was $2.2 million, or 4 cents a share, vs. last year's $1.7 million, or 4 cents a share. The supplier of ceramic nanomaterial and technology said it expects revenue to continue to grow in 2005 as it introduces new programs and products.

Standard Parking Q1 earns $2.1M vs loss $4.4M (8:18 AM ET) NEW YORK (MarketWatch) -- Standard Parking Corp.
STAN, -0.29%
Thursday reported first-quarter earnings of $2.1 million, or 19 cents a share, up from a year-ago loss of $4.4 million. Revenue slipped in the latest three months to $143.1 million from $143.7 million in the same period a year earlier. On a pro forma basis, the Chicago provider of parking management services earned $1.5 million, or 14 cents a share, in the latest quarter. The average estimate of analysts polled by Thomson First Call was for earnings of 23 cents a share in the March period. The company noted that its business is "somewhat seasonal" and that the performance, particularly in its airport and hotel businesses, in the latest period was moderated by reduced levels of travel. Looking ahead, Standard Parking reaffirmed its outlook for earnings of $1.35 to $1.45 a share for the year with pro forma profits projected between $1 and $1.10 a share. The stock closed Wednesday unchanged at $14.80.

FedEx reaffirms view for Q4 earns of $1.40-$1.50 (8:10 AM ET) NEW YORK (MarketWatch) -- FedEx Corp.
FDX, +0.09%
reaffirmed its outlook for earnings of $1.40 to $1.50 per share in the fourth quarter. The current average estimate of analysts polled by Thomson First Call is for earnings of $1.48 a share in the May period. The Memphis, Tenn., package delivery company said it continues to see steady economic growth across the U.S. and internationally. "The overall strength of the economy, and in particular the strength in the manufacturing and wholesale sectors, should continue to benefit FedEx going forward," said Frederick Smith, the company's chairman, president and CEO. The stock closed Wednesday at $87.60, up 1.3%.

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